In the market manipulation case by SMBC Nikko Securities executives, the Securities and Exchange Surveillance Commission said that it was conducting fraudulent stock transactions in order to maintain the stock price of a specific stock, with seven executives and SMBC as a corporation. Nikko Securities has filed a criminal complaint with the Tokyo District Public Prosecutors Office on suspicion of market manipulation in violation of the Financial Instruments and Exchange Act.

It is extremely unusual for a major securities company to be charged with criminal charges.

Seven people were charged with criminal charges, including Trevor Hill (51), a former head of SMBC Nikko Securities' equity division, and Makoto Yamada (44), a former head of the equity department.



In addition, SMBC Nikko Securities as a corporation was also charged with criminal charges.



According to the Securities and Exchange Surveillance Commission, the seven people have made fraudulent transactions, such as buying large quantities of five specific stocks in order to maintain their stock prices, in the approximately one year until November. There is a suspicion of market manipulation that violates the law.



Of these, four, including former General Manager Hill, were arrested by the Special Investigation Department on the 4th of this month, but as a result of the monitoring committee working with the Special Investigation Department to investigate the details, three others were fraudulent. A total of seven people have been charged with criminal charges for alleged involvement in the transaction.



The Oversight Committee has also filed criminal charges against SMBC Nikko Securities as a corporation, saying that the company's business was fraudulent and that the management system to prevent fraud was inadequate.



It is extremely unusual for a major securities company to be charged with criminal charges for fraudulent buying and selling of shares, and the Special Investigation Department is expected to prosecute SMBC Nikko Securities as a corporation with executives on the 24th of the detention deadline.



According to the people concerned, the four arrested people have denied the charges such as "the transaction was within the scope of normal business" in response to the investigation by the Special Investigation Department and others.

SMBC Nikko Securities "We take the accusation seriously"

Regarding this, SMBC Nikko Securities said, "We take this accusation very seriously. We sincerely apologize for the inconvenience caused to our customers and other related parties, and sincerely responded to the investigations and investigations of the relevant authorities. , We will make a company-wide effort to restore trust. "